Wednesday, October 17, 2007

Big morning havoc in the Stock market turned out to be little losses at end of the day

Today morning was a shocking moment for anyone who has seen the Sensex online. It has seen a big havoc and selling in panic by stock market investors. But the market ended with modest loss after initial jolt when Securities & Exchange Board of India (Sebi) Chairman M Damodaran assured that participatory notes (PNs) are not being banned. The market had earlier recovered after Finance Minister's comments that there is no proposal to ban participatory notes. Earlier the market regulator Sebi's proposals to clamp down participatory notes to restrict foreign inflows, announced after trading hours on Tuesday, 16 October 2007, created havoc on the bourses today. Trading was halted just within minutes of opening, as index wide circuit filters were triggered by the steep fall.

In afternoon, M Damodaran, clarified to television media that participatory notes (PN) are not being banned and there will be no bar on FII inflows.

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